Page 47 - GS140301
P. 47
Education
StreetSmarts SM
Four ways to leverage machine intelligence
By Dale S. Laszig industrial environment, one that is data and analytics
DSL Direct LLC driven and based on machine-centric distributed
computing models designed specifically for industrial
ome of us remember the magic of electronic settings," Chauhan wrote.
authorizations over analog phone lines that
liberated merchants from manual paper-based How can payments industry leaders leverage machine
S processing. Thirty years later, machines are intelligence? Following are recommendations of chief
doing so much more than processing payments. They're executive officers, technologists and members of GS
part of the Internet of Things: often abbreviated IOT, it Online's MLS Forum.
is a global network of connected devices that collect and 1. Customer relationship management
report information.
Customer relationship management (CRM) technology
Merchant level salespeople (MLSs) are at the forefront of with built-in analytics helps MLSs keep updated customer
an industrial revolution. Technologies are changing the profiles. These software platforms have become easier
way we read, write, shop, consume entertainment and to use than earlier versions and continue to evolve in
buy things. The catalysts for change in payments are the response to shifting business paradigms.
same ones that brought us to the dance: communications
technologies and machine intelligence. In The Next 15 Years of CRM, Barton Goldenberg of
New industrial paradigm CRM Magazine identified three essential elements of
modern CRM applications: engagement, mobility and
In his white paper Modernizing Machine-to-Machine real-time interaction with customers. "In the next 15
Interactions: A Platform for Igniting the Next Industrial [years], increasingly sophisticated (yet easy-to-use)
Revolution, Nikhil Chauhan, Director of Product social media tools and techniques will make creating
Marketing at GE Software, described a network of and sustaining lifetime customers central to customer-
"Brilliant Machines" that "facilitate the ability of industrial centric business strategies," he wrote. "But customer
companies to remotely manage and control industrial needs will keep changing, leading to a difficult balancing
assets and use them as intelligent devices." act – one requiring not just commitment, expertise, and
innovation‚ but also mastery of [these] three essential
He further noted how machine-to-machine intelligence CRM developments."
and data analytics drive process improvement and help
businesses "safely and securely deploy, manage, upgrade, Going beyond CRM's obvious value as an account reten-
and decommission an increasingly intelligent set of assets tion tool, Goldenberg described in Integrating Social Media
in a controlled, deterministic manner, whether the asset Is a Strategy for Success how CRM can drive engagement.
is a single device or an entire fleet or plant full of assets." He wrote, "[S]ocial CRM mixes the emotional or senti-
mental insights gathered from what a customer says on
Achieving this level of interoperability requires more social communities (e.g., what he or she likes or dislikes
than just technology. "What [would be] needed is the about doing business with your company) with static
technology and best practices that support a modern customer transactional information coming from your
47
StreetSmarts SM
Four ways to leverage machine intelligence
By Dale S. Laszig industrial environment, one that is data and analytics
DSL Direct LLC driven and based on machine-centric distributed
computing models designed specifically for industrial
ome of us remember the magic of electronic settings," Chauhan wrote.
authorizations over analog phone lines that
liberated merchants from manual paper-based How can payments industry leaders leverage machine
S processing. Thirty years later, machines are intelligence? Following are recommendations of chief
doing so much more than processing payments. They're executive officers, technologists and members of GS
part of the Internet of Things: often abbreviated IOT, it Online's MLS Forum.
is a global network of connected devices that collect and 1. Customer relationship management
report information.
Customer relationship management (CRM) technology
Merchant level salespeople (MLSs) are at the forefront of with built-in analytics helps MLSs keep updated customer
an industrial revolution. Technologies are changing the profiles. These software platforms have become easier
way we read, write, shop, consume entertainment and to use than earlier versions and continue to evolve in
buy things. The catalysts for change in payments are the response to shifting business paradigms.
same ones that brought us to the dance: communications
technologies and machine intelligence. In The Next 15 Years of CRM, Barton Goldenberg of
New industrial paradigm CRM Magazine identified three essential elements of
modern CRM applications: engagement, mobility and
In his white paper Modernizing Machine-to-Machine real-time interaction with customers. "In the next 15
Interactions: A Platform for Igniting the Next Industrial [years], increasingly sophisticated (yet easy-to-use)
Revolution, Nikhil Chauhan, Director of Product social media tools and techniques will make creating
Marketing at GE Software, described a network of and sustaining lifetime customers central to customer-
"Brilliant Machines" that "facilitate the ability of industrial centric business strategies," he wrote. "But customer
companies to remotely manage and control industrial needs will keep changing, leading to a difficult balancing
assets and use them as intelligent devices." act – one requiring not just commitment, expertise, and
innovation‚ but also mastery of [these] three essential
He further noted how machine-to-machine intelligence CRM developments."
and data analytics drive process improvement and help
businesses "safely and securely deploy, manage, upgrade, Going beyond CRM's obvious value as an account reten-
and decommission an increasingly intelligent set of assets tion tool, Goldenberg described in Integrating Social Media
in a controlled, deterministic manner, whether the asset Is a Strategy for Success how CRM can drive engagement.
is a single device or an entire fleet or plant full of assets." He wrote, "[S]ocial CRM mixes the emotional or senti-
mental insights gathered from what a customer says on
Achieving this level of interoperability requires more social communities (e.g., what he or she likes or dislikes
than just technology. "What [would be] needed is the about doing business with your company) with static
technology and best practices that support a modern customer transactional information coming from your
47
